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      Vickrey-Clarke-Groves MechanismsRemove Vickrey-Clarke-Groves Mechanisms →

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      • 2015
      • Working Paper

      Strategy-Proofness, Investment Efficiency, and Marginal Returns: An Equivalence

      By: John William Hatfield, Fuhito Kojima and Scott Duke Kominers
      We show that a mechanism induces an agent to make efficient ex ante investment choices if and only if it rewards that agent with his marginal surplus; additionally, for an ex post efficient mechanism, these properties are equivalent to strategy-proofness for the agent.... View Details
      Keywords: Strategy-proofness; Investment Efficiency; Providing Marginal Rewards; Vickrey-Clarke-Groves Mechanisms; Mechanism Design; Market Design; Human Capital
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      Hatfield, John William, Fuhito Kojima, and Scott Duke Kominers. "Strategy-Proofness, Investment Efficiency, and Marginal Returns: An Equivalence." Working Paper, January 2015.
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